Elon Musk’s wealth is at its lowest level in two years

Elon Musk’s wealth continued to decline a week after he lost his position as the richest person in the world, as his net worth fell by $ 7.7 billion on Tuesday, after shares of the electric car company Tesla suffered its biggest one-day loss since October.

Short positions in the company’s shares represent an additional challenge for Musk, who lost his position as the richest person in the world to luxury giant Bernard Arnault on December 13.

Musk’s losses for this year, so far, amounted to $ 122.6 billion, exceeding the amount he won in 2021 when his wealth rose to a rank among the highest in history. The Tesla CEO’s net worth is now $147.7 billion, the lowest in more than two years, according to the Bloomberg Billionaires Index.